Compensation Policy Clause Samples

Compensation Policy. 6.1. Employee declares and confirms, that he is familiar and aware that the Company has adopted a compensation policy pursuant to the provisions of the Companies Law 5759-1999 (the "Compensation Policy", and the "Law", respectively), and that the terms of this Agreement are subject to and shall be aligned with the provisions and guidelines of the Compensation Policy in force, unless otherwise determined from time to time by the Company and approved by the Company's relevant organs. 6.2. In the event that this Agreement and/or any of its provisions shall be proclaimed and/or considered by a competent authority not aligned with the Compensation Policy and not in accordance with the provision of the Law ("Conflicting Provision"), then the parties shall cooperate to adjust any Conflicting Provision with the Compensation Policy or to approve such Conflicting Provisions by the Company's relevant organs, in accordance with applicable law and regulations. 6.3. Without derogating from the Employee’s rights under this Agreement, in the event that the abovementioned adjustment is not achievable, the Employee shall not have any demand, allegations or claims against the Company. 6.4. Without derogating from the provisions of the Compensation Policy, to the extent that any amount or fees paid to the Employee hereunder shall be revealed, within three (3) years of the payment thereof, to have been paid based on erroneous calculations that have been restated in the Company's financial statements, the Employee shall repay the Company amount paid in excess as aforesaid; all in accordance with the provisions of the Compensation Policy.

Compensation Policy. Each company shall define the compensation policy to be applied to its staff. The labour market organisations recommend that salaries be determined according to the qualifications required for the job and that the compensation policy aims to reward job performance and improvements in the company’s efficiency and profitability. Compensation policy shall be based entirely or in part on the following principles: • It is in line with the company’s business idea and supports its implementation • It supports the development of the company’s efficiency, profitability and competitiveness • It is tailored to the individual. It takes into account the demand of the individual’s job tasks and the responsibility involved as well as the person’s skills set and results on the job • It rewards for individual abilities and skills such as information management and project management skills, judgement, initiative, innovation and the ability to co-­­operate. • It encourages each individual to deepen and expand their professional skills • It supports attainment of the joint objectives set for the workplace as well as co-­­operation across functional and personnel group boundaries. • It is clear, geared to the long-­­term and consistent but can be changed flexibly when this is called for by the company’s operating environment or business idea. To function effectively, there must be a consensus on the principles underlying compensation policy, and the supervisor and salaried employee should discuss how job tasks are performed and the effects this has on salaries.

Compensation Policy. 9.1 ▇▇. ▇▇▇▇▇▇▇▇▇▇ declares and confirms, that he is familiar and aware that the Company has adopted a compensation policy pursuant to the provisions of the Companies Law 5759-1999 (the "Compensation Policy", and the "Law", respectively), and that the terms of this Agreement are subject to and shall be aligned with the provisions and guidelines of the Compensation Policy in force, and as shall be determined from time to time. Copy of the Compensation Policy is attached hereto as an integral part of this Agreement. 9.2 In the event that this Agreement and/or any of its provisions shall be proclaimed and/or considered by a competent authority not aligned with the Compensation Policy and not in accordance with the provision of the Law ("Contradicting Term"), then the Parties shall cooperate to adjust any Contradicting Term with the Compensation Policy or to be approved by the Company’s relevant organs, as per the Parties consent and in accordance with applicable law and regulations.

Compensation Policy. The Purchaser commits that following Closing and during the Earn-out Period the employee compensation of the Company will be at least as described and attached as Appendix D to this Agreement (the “Compensation Table”), and as detailed in the Budget. It shall include gross monthly salaries, participation in the Company’s stock option plan, and annual bonuses for executives (as set out in the Compensation Table) based on Milestone achievement during each calendar year.

Compensation Policy. 8.1 Contractor declares and confirms, that it/he is familiar and aware that the Company has adopted a compensation policy pursuant to the provisions of the Companies Law 5759-1999 (the "Compensation Policy", and the "Law", respectively), and that the terms of this Agreement are subject to and shall be aligned with the provisions and guidelines of the Compensation Policy in force, and as shall be determined from time to time. 8.2 In the event that this Agreement and/or any of its provisions shall be proclaimed and/or considered by a competent authority not aligned with the Compensation Policy and not in accordance with the provision of the Law ("Conflicting Provision"), then the parties shall cooperate to adjust any Conflicting Provision with the Compensation Policy or to approve such Conflicting Provisions by the Company's relevant organs, in accordance with applicable law and regulations. 8.3 Without derogating from the Contractor’s rights under this Agreement, in the event that the abovementioned adjustment is not achievable, the Contractor shall not have any demand, allegations or claims against the Company.

Compensation Policy. ‌ (a) Lincoln University operates a total compensation approach to the remuneration of employees, where an employee’s total compensation cost includes the cost of the salary plus the cost of any benefits paid to employees, (“the total compensation package”). (b) Employees covered by this agreement will be paid no less than the living wage as assessed by Living Wage Aotearoa. The living wage adjustment will be applied annually on 1st January each year. (c) The total compensation package received by an employee pursuant to this agreement shall be deemed to fully compensate the employee for all time worked and duties performed under this agreement.‌ (d) Salary will be paid fortnightly in arrears by direct credit to a bank account nominated by the employee. (e) Deductions may be made from the employee’s wages for time lost due to sickness, accident, the employee’s default or leave without pay which has been agreed to between the employer and employee or, with the employee’s written consent, to remedy an incorrect overpayment made to an employee. An employee shall not unreasonably withhold their consent. (f) Employees may belong to the New Zealand University’s Superannuation Scheme (NZUSS) or the Government Superannuation Fund in accordance with the provisions of the respective schemes. If an employee is a subsidised member of either scheme, the cost of the employer contribution to the scheme will form part of the overall value of the employee’s compensation package. If an employee joins the NZUSS scheme during the term of this agreement, the employer shall be entitled, at its discretion, to make a reduction in the employee’s salary rate so that the employee’s joining of the scheme is cost neutral to the employer. (g) At the request of the employee, the employer shall deduct TEU subscriptions from the employee’s pay at the rate advised from time to time by the TEU and shall remit such deductions to the TEU in a manner agreed upon between the TEU and the employer. The employer shall provide to the relevant union, at least quarterly and in electronic form, a list of all employees from whom union deductions are made. (h) The employer may at its discretion offer payment additional to the approved salary for reasons of recruitment and retention, or to recognise special duties or achievements.‌‌

Compensation Policy. The Company shall enter into employment agreements with ▇▇. ▇▇▇▇▇ and ▇▇. ▇▇▇▇▇▇▇▇, and other key employees, providing for compensation consistent with the provisions of Exhibit 9.3.

Compensation Policy. The distance of the shipment is measured by the principle “from the zip-code to the zip-code (not by the exact addresses). Empty miles are paid after 100 miles. Contractor/ driver shall provide his real current location to Company to determine the correct empty mileage.

Compensation Policy. The Company shall procure that no employee, hired worker or self-employed worker engaged by the Group Companies will cost the Group Companies more than a total gross sum of € 250,000 per year on a full-time basis, inclusive of pension contributions, holiday allowances, bonuses and all other emoluments. The aforementioned amount will be subject to yearly indexation, for the first time on 1 July 2023, in accordance with the CBS wage index “▇▇▇-▇▇▇▇▇ per uur incl. bijz.beloningen 2010=100”. The Company shall endeavour that, as calculated on a full-time basis, no employee or self- employed worker on the Group Companies’ payroll in any given country it is active in will earn less than one-tenth of the highest-paid employee or self-employed worker of the relevant Group Company in such country.